Business
Kenya strikes more oil
Wednesday, July 3, 2013
A worker at the Petroleum Refinery plant in Mombasa, Kenya. PHOTO/Daily Nation
Africa-focused oil company Tullow Oil has made a new oil discovery in Kenya’s Lokichar basin in the Rift Valley and doubled oil production estimates for two other prospects.
Tullow Oil hailed a very successful first half 2013 exploration program in Kenya on Wednesday, reporting strong flow rates, and also announced confirmation of a new oil discovery. The is a very real possibility that the estimated 250 million barrels of oil output would increase substantially.
Oil was first discovered in Kenya in March last year, raising hopes that the country could be headed for a new era of mineral wealth.
Source: Africa Review